Increased pre-funding for EU-sponsored projects
He added that the measure was taken in order to secure better absorption of European funds and increase the amount of cash available for the economy to be used for paying for works carried out on European grants.
‘That means tenders have to be held in time, works started off and bills paid. We will not transfer the money to the accounts of the local administrations only for the sake of it being there; the money will be transferred if it is actually paid out and the works are conducted on the European funds at our disposal,’ Boc explained.
‘By increasing pre-funding from 20 to 30 percent we offer the local administrations the possibility of having an easier time refunding the VAT, thus sparing the local budgets and making life easier for the local administrations,’ said Boc.